Bitcoin Price Dips Further Below $80K—Bears Tighten Grip On Market

Bitcoin price started a fresh decline below the $80,500 zone. BTC is consolidating and might struggle to stay above the $78,800 support. Bitcoin failed to stay above $80,500 and extended losses. The price is trading below $80,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $80,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it stays below the $80,500 and $81,200 levels. Bitcoin Price Dips